Apollon Wealth Management LLC Raises Holdings in Nordic American Tankers Limited (NYSE:NAT)

Apollon Wealth Management LLC grew its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 268.1% during the third quarter, Holdings Channel reports. The institutional investor owned 122,991 shares of the shipping company’s stock after purchasing an additional 89,577 shares during the quarter. Apollon Wealth Management LLC’s holdings in Nordic American Tankers were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Nordic American Tankers by 46.3% during the 1st quarter. BNP Paribas Financial Markets now owns 109,406 shares of the shipping company’s stock valued at $429,000 after purchasing an additional 34,631 shares during the period. SG Americas Securities LLC bought a new stake in shares of Nordic American Tankers during the 1st quarter valued at $47,000. Russell Investments Group Ltd. raised its stake in shares of Nordic American Tankers by 36,804.9% during the 1st quarter. Russell Investments Group Ltd. now owns 620,371 shares of the shipping company’s stock valued at $2,432,000 after purchasing an additional 618,690 shares during the period. ProShare Advisors LLC raised its stake in shares of Nordic American Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 36,894 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 2,904 shares during the period. Finally, Vanguard Group Inc. increased its stake in Nordic American Tankers by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 1,682,487 shares of the shipping company’s stock worth $6,595,000 after acquiring an additional 275,707 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Analyst Ratings Changes

NAT has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their target price on Nordic American Tankers from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Thursday. StockNews.com lowered Nordic American Tankers from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Evercore ISI reduced their price objective on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating on the stock in a research report on Friday, August 30th.

Nordic American Tankers Price Performance

Shares of Nordic American Tankers stock opened at $2.98 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $622.22 million, a PE ratio of 10.28 and a beta of -0.21. The business’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.74. Nordic American Tankers Limited has a 12 month low of $2.95 and a 12 month high of $4.64.

Nordic American Tankers (NYSE:NAT) last announced its quarterly earnings data on Tuesday, September 3rd. The shipping company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $54.34 million. Nordic American Tankers had a return on equity of 11.60% and a net margin of 26.35%. During the same period in the prior year, the company earned $0.13 EPS. Sell-side analysts forecast that Nordic American Tankers Limited will post 0.28 EPS for the current fiscal year.

Nordic American Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, September 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 16.11%. The ex-dividend date is Thursday, September 26th. Nordic American Tankers’s dividend payout ratio is presently 165.52%.

Nordic American Tankers Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.